Australian forex brokers are all about being competitive for their traders. They want to gain market share by hosting desirable platforms, currency pairs, and accounts. To do this they often provide multiple choices like two or three forex trading systems. Advanced Trader is one out of several trading platforms you can choose from. It is examined below for its features and a few comparison details to help you decide if you want to look for a broker offering it or not.
Forex Trading Systems Advanced Trader Features
Advanced Trader is touted by the developer as a user-friendly platform that offers a professional trading capability. The software is meant to be customisable allowing clients to tailor it to their needs, trading styles, and the market. Whether it follows this description is something you as a trader will need to determine. Forex trading systems are offered by different companies because there are a variety of trading styles out there. While one platform may work for your neighbour, you might prefer something else.
Advanced Trader is a desktop application. It has the ability to handle complex orders such as OTO or OCO. It has analysis and charting capabilities. You will also see monitoring tools and an insider data feed for news with the trading platform.
This platform is free, available to any computer user, and offers various charting tools. Advanced Trader is proprietary software. There are some things it will not offer. You will have to download it to your computer, thus taking up memory and also installing a file on the desktop. You cannot trade from the charts meaning you cannot link an account with the chart. Automated trading is also not something provided with Advanced Trader. Forex trading systems can sometimes be manual and automated like MetaTrader 4.
Comparing Other Forex Trading Systems
Web Trader 2 or Web as it is often called is another system available. It is free, available to any user, does not require a download, offers trading from charts, data feeds, charting tools, and is proprietary software. It does not have automated capabilities.
There is also mobile trader which is a lot like Web Trader 2 except it does not allow trading from the charts or charting tools. The lack of charting tools also means it differs from Advanced Trader.
Lastly, as a comparison to Meta Trader 4 you see this system needs a download, does not use FX Insider for news and is not proprietary. It does have one thing the other three forex trading systems lack and that is automated trading. Right here you have four different systems mentioned, with differences that show up in a comparison.
There is no one right or wrong platform in the list. Simply, you have four choices available to you. You may not want to download a platform. You may have no issue downloading something. On the other hand you might prefer FX Insider data versus a different news feed. The point is for you to make the decision of what you like from your trading platform and find the best fit for your style.